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U.S. stock futures slide after Trump tests positive for coronavirus

U.S. stock futures plunged Friday morning, after it was announced President Trump and first lady Melania Trump tested positive for the coronavirus.

The big picture: The S&P 500 futures dropped 1.7% and futures tied to the Dow Jones Industrial Average and the Nasdaq-100 each shed almost 2%, "suggesting that U.S. markets could open lower," the Wall Street Journal notes.


  • Asian stocks were also fell — including in Japan, which closed down 0.8% after the announcement, despite spending much of the day trading up, per the New York Times.
  • European also opened over 1% lower in early trading.

What they're saying: "Markets hate uncertainty and this ticks all those boxes," said Asia Pacific with Oanda Corp. senior market analyst Jeffrey Halley, told Bloomberg.

  • "Not because of the President alone, but because this potentially means it has spread to the upper-level echelons of the government in the U.S."

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Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

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Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

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